[143 Pages Report] The immersive simulator market is estimated to reach USD 11.44 Billion by 2022, at a CAGR of 35.13% between 2016 and 2022. The base year considered for the study is 2015 and the forecast period is between 2016 and 2022.

The objective of the report is to provide a detailed analysis of the immersive simulator market based on simulation environment, offering, application, industry, and geography. The report provides detailed information regarding the major factors influencing the growth of the market. The report also gives a detailed overview of the value chain in the immersive simulator market and analyzes the market trends through the Porter's five forces analysis.

Immersive simulator-based emergency services help in improving safety in industrial performance by preventing catastrophes, reducing maintenance costs, and decreasing the release of waste material in the environment, thereby increasing the production throughout. As emergency situations such as oil spills, fire breakout, or any other disaster can occur in a process plant, field operating training is provided to plant operators to prevent or address such situations. The use of immersive simulators for training helps operators to make better decisions in emergency scenarios, ensures more stability, and lowers the risk of accidents and hazardous impact on the environment.

With the growing industry automation and process control, operators may lack the knowledge required to operate a plant safely and proficiently. The process and discrete industries are equipped with different machineries working on different platforms. It would be difficult for a new user to operate those machines. On-field training enables users to interact with the machineries, but immersive simulator training helps prevent untoward incidents and enables users to respond quickly and appropriately in case of emergencies. Simulator technologies are more advanced than on-field training and provide a collaborative training environment. The operators can learn more quickly when they are allowed to work in a fully immersed environment.

The research methodology used to estimate and forecast the immersive simulator market begins with capturing data on key vendor revenue through the secondary research such as BP Energy Outlook 2035, Current Market Outlook 2016–2035 Boeing, International Association of Medical Science Educators (IAMSE), International Energy Agency (IEA), North American Simulation and Gaming Association, Organisation Internationale des Constructeurs d'Automobiles (OICA), Simulation Australasia, Stockholm International Peace Research Institute, U.S. Energy Information Administration, press releases, investor relation presentations, and annual reports. The vendor offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the global immersive simulator market from the revenue of key players. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have been verified through primary research by conducting extensive interviews of people holding key positions such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of primaries is depicted in the figure below:

The immersive simulator market is estimated to be worth USD 11.44 Billion by 2022, at a CAGR of 35.13% between 2016 and 2022. The growth of this market is majorly driven by the increasing applications in the medical industry, risk mitigation in oil and gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulator

The immersive simulator market has been segmented on the basis of offering, simulation environment, application, industry, and geography. The market for immersive simulator hardware is expected to grow at a high CAGR on the basis of offering. The technological advancements in hardware components and the increasing number of new product launches and developments are expected to boost the adoption of hardware in industries such as automotive, food and beverages, oil and gas, chemicals, medicals, and entertainment, among others. The immersive simulator market for the training application held the largest market share among all the applications. With the rising concern toward safety, training in various industries has been increased. This, in turn, is expected to drive the market for immersive simulator for training purposes. Training using immersive simulators helps create a platform and development suite for better understanding and simplification of ideas before putting them into action on the site.

The immersive simulator market used in console operator training held the largest market share owing to its training application in process industries and product development in discrete industries. The rapid advancements in process control, along with the training in factories and plants to enhance the production process drive the growth of the market. Immersive training ensures risk mitigation in the process industries during handling or coming in contact with hazardous substances. This is expected to stimulate the demand for immersive console operations.

The immersive simulator market for the oil and gas industry held the largest market share among all industries. Immersive simulator offers the capability to see through solid structures for maintenance and inspection requirements in the oil and gas industry. Moreover, for the safety of the people working in a refinery, proper training in the operations of the assets in the plant has to be provided. This is driving the growth of the market for immersive simulators.

The immersive simulator market in APAC held the largest market share in 2015 owing to the huge demand for immersive simulators in metal and mining, oil and gas, aerospace and defense, and medical and biotech industries. Australia has added the functional use of immersive simulator in metal and mining industry, while China, Japan, and India have contributed to the market growth in the aerospace and defense sector along with the medical and biotech sector.

The immersive simulator market has been driven by the increasing applications in the medical industry, risk mitigation in the oil and gas industries through training in immersive simulator, and ability to transfer knowledge quickly through training in immersive simulator. However, the major restraining factors for the growth of this market are lack of integration between providers of immersive simulator hardware, software, and services as well as the low adoption and acceptance due to lack of awareness.

The key players in immersive simulator market such as Applied Research Associate Inc., (U.S.), Aveva Group Plc, (U.K.), ESI Group (France), Immerse Learning (U.S.), Schneider Electric SE (France), and Siemens AG, (Germany), among others are focusing on new product launches and developments, acquisitions, and collaborations strategies to enhance their product offerings and expand their business.

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Figure 1 Markets Covered in the MarketFigure 2 Immersive Simulator Market: Research DesignFigure 3 Immersive Simulator Market: Bottom-Up ApproachFigure 4 Top-Down ApproachFigure 5 Data TriangulationFigure 6 Assumptions of the Research StudyFigure 7 Immersive Simulator Market SegmentationFigure 8 Software & Services Segment Expected to Hold A Major Share of the Market During the Forecast PeriodFigure 9 Console Operator Expected to Hold A Major Share of the Market During the Forecast PeriodFigure 10 Immersive Simulator Market for Training Application Expected to Grow at the Highest Rate During the Forecast PeriodFigure 11 Oil & Gas Industry to Hold the Largest Size of the Market During the Forecast PeriodFigure 12 Immersive Simulator Market, By Geography, 2016Figure 13 Attractive Growth Opportunities in the Immersive Simulator MarketFigure 14 Console Operator Training Market Expected to Grow at A Higher CAGR Between 2016 and 2022Figure 15 Training Application Expected to Lead the Market in 2016Figure 16 Oil & Gas Industry Expected to Hold the Largest Share of the Immersive Simulator Market in 2016Figure 17 The U.S. to Hold the Largest Share of the Market in 2016Figure 18 Immersive Simulation Market, By RegionFigure 19 Drivers, Restraints, Opportunities, and Challenges in the MarketFigure 20 Value Chain Analysis: Major Value Addition Done During the Manufacturing & Assembly PhaseFigure 21 Porter’s Five Forces Analysis - 2015Figure 22 Impact Analysis: Immersive Simulator MarketFigure 23 Medium Impact of Threat of New Entrants on the MarketFigure 24 Medium Impact of Threat of Substitutes in the Immersive Simulator MarketFigure 25 Medium Impact of Bargaining Power of Suppliers in the MarketFigure 26 Low Impact of Bargaining Power of Buyers in the Immersive Simulator MarketFigure 27 High Impact of Intensity of Competitive Rivalry in the MarketFigure 28 Immersive Simulator Market, By OfferingFigure 29 Market for Hardware Expected to Grow at A Higher Rate Between 2016 and 2022Figure 30 Market, By Simulation EnvironmentFigure 31 Market for Console Operator Training Expected to Grow at A Higher Rate Between 2016 and 2022Figure 32 Immersive Simulator Market, By ApplicationFigure 33 Market for Training Expected to Grow at the Highest Rate Between 2016 and 2022Figure 34 Market, By IndustryFigure 35 Oil and Gas Industry Expected to Hold the Largest Size of the Market Between 2016 and 2022Figure 36 North America to Hold the Largest Size of the Immersive Simulator Market for the Oil and Gas Industry in 2016Figure 37 Training Applications to Lead the Immersive Simulator Market for the Metal and Mining Industry Between 2016 and 2022Figure 38 North America Expected to Hold the Largest Size of the Market for the Power and Energy By 2022Figure 39 Immersive Simulator Market for the Aerospace and Defense Industry in North America Expected to Grow at A Highest Rate Between 2016 and 2022Figure 40 Training Applications Likely to Dominate the Market for the Chemical Industry During the Forecast PeriodFigure 41 North America Expected to Dominate the Immersive Simulator for the Pulp and Paper Industry During the Forecast PeriodFigure 42 Training Expected to Lead the Immersive Stimulator Market for the Food and Beverages Industry During the Forecast PeriodFigure 43 Immersive Simulator Market in Europe to Grow at the Highest Rate During the Forecast PeriodFigure 44 Snapshot of Immersive Simulator Market in North AmericaFigure 45 Snapshot of Market in EuropeFigure 46 Germany Likely to Dominate the European Market During the Forecast PeriodFigure 47 Snapshot of Immersive Simulator Market in Asia-PacificFigure 48 Immersive Simulator Market in South America to Grow at the Highest Rate During the Forecast PeriodFigure 49 New Product Development as the Key Growth Strategy Adopted By the Companies Between 2014 and 2016Figure 50 Market Evolution Framework: New Product Developments Fuelled the Growth of the MarketFigure 51 Battle for Market Share: New Product Launches & Developments—The Key Strategies Adopted By Players Between 2014 and 2016Figure 52 Geographic Revenue Mix of Top Immersive Simulator Market PlayersFigure 53 Aveva Group PLC: Company SnapshotFigure 54 Aveva Group PLC: SWOT AnalysisFigure 55 ESI Group: Company SnapshotFigure 56 ESI Group: SWOT AnalysisFigure 57 Schneider Electric SE: Company SnapshotFigure 58 Schneider Electric SE: SWOT AnalysisFigure 59 Siemens AG: Company SnapshotFigure 60 Siemens AG: SWOT AnalysisFigure 61 Applied Research Associate, Inc.: SWOT Analysis

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